Sorrento Therapeutics, Inc. (NASDAQ:SRNE)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Monday. They presently have a $20.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also commented on SRNE. Roth Capital initiated coverage on shares of Sorrento Therapeutics in a research report on Thursday, August 3rd. They set a “buy” rating and a $7.00 price target for the company. Oppenheimer Holdings, Inc. initiated coverage on shares of Sorrento Therapeutics in a research report on Friday, August 4th. They set an “outperform” rating and a $7.00 price target for the company. Rodman & Renshaw decreased their price target on shares of Sorrento Therapeutics from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, May 22nd. FBR & Co restated a “buy” rating on shares of Sorrento Therapeutics in a report on Saturday, June 17th. Finally, UBS AG assumed coverage on shares of Sorrento Therapeutics in a report on Thursday, August 3rd. They set an “outperform” rating and a $7.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $11.67.

Shares of Sorrento Therapeutics (SRNE) opened at 1.75 on Monday. Sorrento Therapeutics has a 1-year low of $1.50 and a 1-year high of $8.35. The firm’s 50-day moving average is $1.77 and its 200-day moving average is $2.24. The company’s market capitalization is $120.70 million.

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Large investors have recently modified their holdings of the stock. KCG Holdings Inc. acquired a new position in Sorrento Therapeutics in the 1st quarter worth approximately $108,000. Teachers Advisors LLC increased its holdings in Sorrento Therapeutics by 10.8% in the 4th quarter. Teachers Advisors LLC now owns 41,908 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 4,099 shares during the period. Dimensional Fund Advisors LP increased its holdings in Sorrento Therapeutics by 408.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 41,683 shares during the period. Matrix Asset Advisors Inc. NY increased its holdings in Sorrento Therapeutics by 227.3% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 72,000 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 50,000 shares during the period. Finally, LMR Partners LLP acquired a new position in Sorrento Therapeutics in the 2nd quarter worth approximately $177,000. Institutional investors own 16.31% of the company’s stock.

Sorrento Therapeutics Company Profile

Sorrento Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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